How To Get a Business Loan

08/02/2024

Reality in PNG!

31/07/2023

Robert Flemming Former BSP CEO has been appointed Chairman of Peoples Micro Bank LTD - PMBL is a subsidiary to National Microbank. PMBL intends to evolve into a fully Licensed Commercial Bank bank in the near Future. Creating competion and Closing the monopoly gap that BSP has currently has over PNG.

12/07/2021

18/04/2021

Westpac PNG will now be taken over by Kina Bank.

It’s part of our on-going commitment to a better banking experience for all Papua New Guineans.

18/04/2021

Big Changes in The Financial Sector up ahead!

It’s part of our on-going commitment to a better banking experience for all Papua New Guineans.

15/02/2021

Banks Do not usually give SME Loans to Start Up Business!
Start your SME before seeking Banks assistance.

06/11/2020

Basically how Government Guarantee SME Loan Schemes can operate in PNG.
Save 30% Equity to Be Eligible.

PEOPLE’s MICRO BANK TO COMMENCE LENDING FOR THE YS DISTRICT CHICKEN OUTGROWER PROGRAM
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Agreement was sealed today between the CEO of People’s Micro Bank Ltd [PMBL] Mr. Anthony DelaCruz and YS MP Hon. Richard Maru that PMBL will commence lending for the YS District Chicken Outgrower Program as of 23 November, 2020.

YS people who wish to part-take in the Outgrower Program will be required to provide 30 percent equity for the total loan they wish to borrow depending on the size of the chicken shed they wish to build. Seventy per cent (70%) of the loan will be fully guaranteed by K1.0 Million IBD which the YS District will have with PMBL.

Under the Scheme farmers can select from
6 shed sizes for chicken capacity : 500, 1000, 2000, 4000, 5000 and 10,000.

The first farmers will start their farms and start selling chickens to the company to process and market from January 2021.

02/11/2020

01/11/2020

Multiple Income sources Alleviates Poverty and Reliance on Salary Loans.
Do not rely on Salary alone.
You also have a good chance of obtaining a micro/Business loan from MicroBanks if you do have have multiple Income Sources as you can save.

With multiple streams of income, on the other hand, you can avoid putting all your eggs in one basket – and use several streams of cash to grow your prosperity.

28/08/2020

Private and Government Employees cannot Obtain a Business Loan from Microbanks because;
1. No Equity (Savings)
2. No Experience in operating a business..
3. No Assets to put as additional security - If you do have, then check if you have number one.